News Karnataka
Monday, April 22 2024

Meta, owning Facebook surpasses $2 bn revenue mark in India

Meta owning Facebook surpasses 2 bn revenue mark in India
Photo Credit : IANS

New Delhi: Meta Platforms, which owns Facebook, WhatsApp and Instagram, surpassed $2 billion in revenue in India in FY22, which has become a strategic market for the US company.

The social network posted a total profit of Rs 440 crore (after tax) in the country, growing at 116 per cent (YoY) in FY22. Profit after tax was Rs 297 crore, growing at 132 per cent.

According to Meta’s filings with the Registrar of Companies (RoC), it has registered gross ad revenue growth of 74 per cent (YoY). The growth comes at a time when WhatsApp has seen a significant growth in India, nearing 500 million users in the country.

WhatsApp for Business has also seen a meteoric rise in the country, especially for small businesses.

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